Challenge of high unemployment facing Arab Spring economies -IMF
International Monetary Fund (IMF) First Deputy Managing Director, David Lipton, said that his visit to Tunisia was an opportunity to exchange views with Tunisian participants during a conference on Economic Perspectives in Tunisia, co-hosted by the Central Bank of Tunisia and the IMF.
Source : https://www.marocafrik.com/english/Challenge-of-hi...
He said that he was convinced that countries in the Middle East and North Africa (MENA), such as Tunisia, which were in a democratic transition stage needed to engage with the international community, regional partners, and private investors, if they are to seize a historic opportunity to achieve dynamic growth and create jobs.
Mr Lipton said that necessary measures included deeper trade integration, better functioning labour markets, education geared towards private sector needs, and a fair business environment to encourage investment which was needed to promote job creation and help fight high rates of unemployment. An effective social safety net that protects those most in need must complement a strong private sector that creates jobs, he affirmed.
He said that a slowing world economy and ongoing uncertainties in Europe, higher food and fuel prices, and the conflict in Syria were factors undermining democratic advances in the Mena region.
Speaking to Tunisian businessmen, he highlighted the progress made in terms of political changes, but warned that “substantial uncertainties remain, holding back confidence and slowing economic recovery.”
The IMF expected a “moderate recovery” in the Middle East and North Africa in 2013, which he described as “encouraging” but not sufficient to permit a sharp reduction in the high unemployment dogging the region.
He highlighted the dangers of high youth unemployment and urged the implementation of reforms which could deliver higher growth and new jobs.
Mr Lipton said that necessary measures included deeper trade integration, better functioning labour markets, education geared towards private sector needs, and a fair business environment to encourage investment which was needed to promote job creation and help fight high rates of unemployment. An effective social safety net that protects those most in need must complement a strong private sector that creates jobs, he affirmed.
He said that a slowing world economy and ongoing uncertainties in Europe, higher food and fuel prices, and the conflict in Syria were factors undermining democratic advances in the Mena region.
Speaking to Tunisian businessmen, he highlighted the progress made in terms of political changes, but warned that “substantial uncertainties remain, holding back confidence and slowing economic recovery.”
The IMF expected a “moderate recovery” in the Middle East and North Africa in 2013, which he described as “encouraging” but not sufficient to permit a sharp reduction in the high unemployment dogging the region.
He highlighted the dangers of high youth unemployment and urged the implementation of reforms which could deliver higher growth and new jobs.
Source : https://www.marocafrik.com/english/Challenge-of-hi...